Dec 11, 2012 5:30pm PST
.s. department of justice report about h.s.b.c. holdings, one of the largest banks in the world. to avoid criminal prosecution, h.s.b.c. admitted today that it laundered more than $800 million for mexican drug cartels and covered up illegal transactions for burma, iran, sudan, cuba, and libya. those nations were under banking sanctions because of human rights atrocities, terrorism, or, in iran's case, a nuclear program. the british bank will pay $1.9 billion to the u.s. government, the largest such fine in history. senior correspondent john miller is in new york following the story for us tonight. john? >> reporter: scott, it's a case that has everything: everything except an arrest. and that struck some as odd because in an 80-page document of court papers, the bank admits to almost going out of its way to act as a financial clearing house for international pariahs and drug dealers. h.s.b.c. officials listed mexico in its lowest risk category for money laundering during a four- year period when mexican drug cartels were funneling hundreds of millions of dollars through the bank. u.s. att
Dec 11, 2012 4:00am PST
" time on tuesday. a record fine for hsbc, and could apple's faulty maps be life threatening? ashley morrison with that and more from new york. good morning to you. >>> good morning to you. asian markets were cautious as u.s. leaders agreed to reach a budget deal to avoid the fiscal cliff. tokyo's nikkei gained a fraction while hong kong's hang seng added a quarter percent. >>> this week the federal reserve is expected to announce a new bond-buying program aimed at lowering interest rates. if it works, it might soften the blow if the nation goes over the fiscal cliff. fed chair ben bernanke has said if a budget deal can't be reached, there's little the central bank can do to offset the shock of those spending increases and tax cuts. >>> a strong sales report from mcdonald's offset wall street's worries about the fiscal cliff negotiations. the dow added 15 points while the nasdaq gained 9 points. >>> hsbc is paying a record $1.9 billion to settle a federal and state money laundering probe. the british bank was under investigation for allegedly transferring billions of dollars on behal
Dec 11, 2012 4:30am PST
red flags pointing to money laundering. the penalty for hsbc is $1.9 billion. a senate report says hsbc mexico shipped billions of dollars of cash to the u.s., money believed to be tried to drugs and terrorism. >>> a report sent hewlett- packard soaring leading to a higher dow yesterday. the report says activist investor carl icahn plans to put a stake in hp which helped the stock, down 45% in the year. icahn is said to be worth more than $14 billion and his hedge fund was one of the top performers last year. >>> it's been a record holiday season for seasonal workers. job placement firm challenger, grey and christmas says retailers hired 465,000 seasonal workers last month up 21% from a year ago. and it's the most ever hired in november. challenger says holiday hiring could reach 760,000 by the end of the month. >>> it looks like the new university of california's logo is here to stay. that despite over 42,000 petition signatures against it. let's take a look. the new more modern uc logo came out six months ago and is appearing on more and more uc websites and publications. i'm not
Dec 11, 2012 5:00pm PST
of the biggest names in banking admits to handling the dirtiest money in the world. h.s.b.c.'s clients included drug cartels and countries that sponsored terrorism. john miller on why the bank won't be prosecuted. elaine quijano in michigan where the legislature has voted on a landmark law to reduce the power of unions. and michelle miller. in this season of giving, remembering those who gave all. >> it's got a beautiful look, really. with a nice red bow.
Dec 11, 2012 7:00am PST
. in the united states federal investigators claim hsbc transferred billions of dollars for countries like iran and did business with mexican drug cartels. company officials say they accept responsibility for past mistakes. >>> "the new york times" says top officials in afghan government was shot on her way to work. her predecessor also murdered less than six months ago. >>> the "wall street journal" reports delta airlines is close to a deal to buy 49% of virgin atlantic airways, that would give delta a wider network of flights and more space at heath row, london's main airport. delta would pay singapore airlines 300 million to $500 million for the stake. >>> google avoided paying about $2 billion worldwide income taxes last year. the company moved nearly $10 billion in overseas profits to bermuda, where there is no,, >>> good morning. heading out, grab the jacket. it's chilly in spots. overlooking san jose now not a bad start to the day at all. we have mostly clear skies, some patchy, dense fog in the valleys and fog at the coast.temperatures in the 30s and 40s now, this afternoon 50s and 60s.